CRM to Post Higher-Than-Expected Q3 Earnings

Caris & Company upgraded salesforce.com (NYSE: CRM) to “above average.” The target price for CRM has been raised from $47 to $68.

Caris & Company believes CRM will post its revenues and EPS for Q310 slightly ahead of the consensus. CRM may also post improvement in its bookings and moderation in its churn, according to Caris & Company.

Salesforce.com’s billings and revenue projections are likely to rise significantly, driven by a sharp dip in the US dollar and CRM’s improving bookings.